Seplat Discovers 19 Million Barrels of Oil, 157 Billion Cubic Feet of Gas in Imo State

Seplat Energy has announced a significant oil and gas discovery at its Aku-01 exploration well in Imo State, with preliminary estimates indicating about 19 million barrels of oil and 157 billion cubic feet of natural gas.

The discovery was made in the onshore area of the state and was reportedly outside the company’s original exploration plan, marking a new development in its exploration activities in the region.

According to the company’s latest financial report, the well encountered five reservoir intervals. The findings have also reduced exploration risks across four neighbouring prospects, potentially providing a basis for further exploration in the area.

Seplat said it is currently completing the well as it assesses the possibility of future production. The company plans to connect the well to existing infrastructure to support commercial development.

The energy firm, which operates the asset with a 40 per cent interest, is also preparing for another phase of exploration in the area in 2027.

The discovery could contribute to Nigeria’s domestic oil and gas resource base and create opportunities for additional production if commercial development proceeds.

However, the preliminary resource estimates should not be mistaken for confirmed recoverable reserves. Further technical and commercial assessments will be necessary to establish how much of the discovered oil and gas can be economically produced.

The development has brought renewed attention to Imo State’s potential in Nigeria’s oil and gas industry, as Seplat continues to assess the discovery and its prospects for future development.